Buy SuperiorCoin with SBD/STEEM

Tuesday, May 16, 2017

On May 12, Bitcoin price dropped from around $1,815 to $1,600 in a 24-hour period, recording a nearly 12 percent overnight decline. Since then, Bitcoin price has recovered relatively quickly and is back in the $1,740 region.

Bitcoin price has maintained its upward trend and momentum for seven straight days, reaching new all-time highs almost on a daily basis. From May 5 to May 12, Bitcoin price increased from $1,500 to $1,850, demonstrating a $350 weekly increase in value.

However, in the evening of May 12, Bitcoin price plunged, dropping by 12 percent.

In some markets, Bitcoin price entered the $1,500 region, sparking concerns of investors whether Bitcoin’s short-term price surge can be justified and sustained.

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